Debated in Parliament on 9 May 2023.
Mr Leong Mun Wai asked the Prime Minister for each year since 2020 (a) what is the total inflow of foreign funds into Singapore through family offices, broken down by each source country; and (b) whether the Government will provide an assessment on the impact of the inflow of such foreign funds on (i) Singapore's Official Foreign Reserves position, (ii) the private property market and (iii) inflation.
Mr Leong Mun Wai asked the Prime Minister with regard to single family offices applying for tax incentive schemes since April 2022 and are required to allocate at least 10% or S$10 million of their assets, whichever is lower, to local investments, what is the total assets that have been invested locally into (i) equities listed on Singapore exchanges, (ii) private equity investments in unlisted Singapore-incorporated companies and (iii) qualifying debt securities.
These questions have been addressed in the reply to Mr Chua Kheng Wee Louis' Parliamentary Question filed for the Sitting on 10 May 2023. [Please refer to "Data on Amounts and Sources of Wealth Inflows into Singapore", Official Report, 10 May 2023, Vol 95, Issue 104, Oral Answers to Questions section.]
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